Apparel Group to announces joint venture with Steve Madden to expand its global presence
Apparel Group, a leading global fashion conglomerate is proud to announce a joint venture with America’s No.1 Contemporary Fashion footwear brand, Steve Madden. As a result of the joint venture agreement, Apparel Group aims to significantly expand Steve Madden’s footprint in the GCC, Africa, Egypt to be the first african country, Türkiye and CIS countries.
Known for leading fashion brands throughout the GCC and globally, Apparel Group is the partner of choice for some of the world’s most desirable fashion brands and currently boasts more than 2010 stores throughout 14 countries, with over 78 brands.
Apparel Group and Steve Madden are committed to fostering a strong cultural identity for the joint venture, building on Apparel Group’s long-standing history of brands and its innovative quantitative approaches that have been core to their success. This new joint venture aims to expand these strengths and bring in new and unique perspectives, expertise, and insights to better serve its customers.
Currently, Steve Madden has 11 stores in the UAE and 21 stores throughout the GCC region. To reinforce its commitment, Apparel Group plans to open 13 new Steve Madden stores in 2023. Over the next five years, Apparel Group aims to open 50 Steve Madden stores and launch an online platform (stevemadden.me) in the GCC to provide customers with an omnichannel experience.
Neeraj Teckchandani, CEO of Apparel Group said, “Apparel Group’s philosophy has always been to be associated with the leading international brands with the vision to ensure, increase, and solidify their commercial status on a global scale. Continuing Apparel Group’s commitment to providing an elevated shopping experience to our loyal customers, we are proud to be partnering up with Steve Madden and further expanding our strong retail footprint in the GCC region.”
Ian Funk, President of International, Steven Madden, Ltd. commented, “Since entering the GCC market over ten years ago, we have experienced significant growth to our business. Given the importance of this critical market for our consumer and brand, we are pleased to be entering into a joint venture agreement with best-in-class partners, Apparel Group, and look forward to continued growth in the region as we capitalize on our strong momentum.”